Publication of Russian Harmful Foreign Activities Sanctions Regulations Web General Licenses 8E, 58, and 59, 16887-16889 [2023-05649]
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Federal Register / Vol. 88, No. 54 / Tuesday, March 21, 2023 / Rules and Regulations
amended by Pub. L. 109–144, 119 Stat. 2660,
Pub. L. 110–160, 121 Stat. 1839, Pub. L. 114–
1, 129 Stat. 3, and Pub. L. 116–94, 133 Stat.
2534 (15 U.S.C. 6701 note); Pub. L. 114–74,
129 Stat. 601, Title VII (28 U.S.C. 2461 note);
Pub. L. 116–94, Div. I, Title V, § 501, 133
Stat. 3026.
6. Amend § 50.83 by revising
paragraph (a) to read as follows:
■
§ 50.83 Adjustment of civil monetary
penalty amount.
(a) Inflation adjustment. Any penalty
under the Act and these regulations may
not exceed the greater of $1,643,738
and, in the case of any failure to pay,
charge, collect or remit amounts in
accordance with the Act or these
regulations, such amount in dispute.
*
*
*
*
*
Kayla Arslanian,
Executive Secretary.
[FR Doc. 2023–05769 Filed 3–20–23; 8:45 am]
BILLING CODE 4810–AK–P
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 587
Publication of Russian Harmful
Foreign Activities Sanctions
Regulations Determination
Office of Foreign Assets
Control, Treasury.
AGENCY:
ACTION:
Publication of a determination.
The Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is publishing a sector
determination issued pursuant to an
April 15, 2021 Executive order. The
determination was previously issued on
OFAC’s website.
SUMMARY:
The Determination Pursuant to
Section 1(a)(i) of Executive Order 14024
was issued on February 24, 2023. See
SUPPLEMENTARY INFORMATION for
additional relevant dates.
DATES:
ddrumheller on DSK120RN23PROD with RULES1
FOR FURTHER INFORMATION CONTACT:
OFAC: Assistant Director for Licensing,
202–622–2480; Assistant Director for
Regulatory Affairs, 202–622–4855; or
Assistant Director for Sanctions
Compliance & Evaluation, 202–622–
2490.
SUPPLEMENTARY INFORMATION:
Electronic Availability
This document and additional
information concerning OFAC are
available on OFAC’s website:
www.treas.gov/ofac.
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Background
On April 15, 2021, the President,
invoking the authority of, inter alia, the
International Emergency Economic
Powers Act (50 U.S.C. 1701 et seq.)
(IEEPA), issued Executive Order (E.O.)
14024 (86 FR 20249, April 19, 2022).
Among other prohibitions, section
1(a)(i) of E.O. 14024 blocks, with certain
exceptions, all property and interests in
property that are in the United States,
that come within the United States, or
that are or come within the possession
or control of any U.S. person of any
person determined by the Secretary of
the Treasury, in consultation with the
Secretary of State, or by the Secretary of
State, in consultation with the Secretary
of the Treasury, to operate or have
operated in the technology sector or the
defense and related material sector of
the Russian Federation economy, or any
other sector of the Russian Federation
economy as may be determined by the
Secretary of the Treasury, in
consultation with the Secretary of State.
On February 24, 2023, pursuant to
delegated authority, the Director of
OFAC, in consultation with the
Department of State, determined that
the prohibitions in section 1(a)(i) of E.O.
14024 shall apply to the metals and
mining sector of the Russian Federation
economy.
The determination took effect on
February 24, 2023. The text of the
determination is below.
OFFICE OF FOREIGN ASSETS
CONTROL
Determination Pursuant to Section
1(a)(i) of Executive Order 14024
Metals and Mining Sector of the
Russian Federation Economy
Section 1(a)(i) of Executive Order
(E.O.) 14024 of April 15, 2021
(‘‘Blocking Property With Respect To
Specified Harmful Foreign Activities of
the Government of the Russian
Federation’’) imposes economic
sanctions on any person determined by
the Secretary of the Treasury, in
consultation with the Secretary of State,
or the Secretary of State, in consultation
with the Secretary of the Treasury, to
operate or have operated in such sectors
of the Russian Federation economy as
may be determined by the Secretary of
the Treasury, in consultation with the
Secretary of State.
To further address the unusual and
extraordinary threat to the national
security, foreign policy, and economy of
the United States described in E.O.
14024, and in consultation with the
Department of State and pursuant to 31
CFR 587.802, I hereby determine that
section 1(a)(i) of E.O. 14024 shall apply
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16887
to the metals and mining sector of the
Russian Federation economy. Any
person determined, pursuant to section
1(a)(i) of E.O. 14024, to operate or have
operated in this sector shall be subject
to sanctions pursuant to section 1(a)(i).
This determination shall take effect
on February 24, 2023.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
February 24, 2023.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2023–05645 Filed 3–20–23; 8:45 am]
BILLING CODE 4810–AL–P
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 587
Publication of Russian Harmful
Foreign Activities Sanctions
Regulations Web General Licenses 8E,
58, and 59
Office of Foreign Assets
Control, Treasury.
ACTION: Publication of web general
licenses.
AGENCY:
The Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is publishing three
general licenses (GLs) issued pursuant
to the Russian Harmful Foreign
Activities Sanctions Regulations: GLs
8E, 58, and 59, each of which was
previously made available on OFAC’s
website.
DATES: GLs 8E, 58, and 59 were issued
on December 15, 2022. See
SUPPLEMENTARY INFORMATION for
additional relevant dates.
FOR FURTHER INFORMATION CONTACT:
OFAC: Assistant Director for Licensing,
202–622–2480; Assistant Director for
Regulatory Affairs, 202–622–4855; or
Assistant Director for Sanctions
Compliance & Evaluation, 202–622–
2490.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Electronic Availability
This document and additional
information concerning OFAC are
available on OFAC’s website:
www.treas.gov/ofac.
Background
On December 15, 2022, OFAC issued
GLs 8E, 58, and 59 to authorize certain
transactions otherwise prohibited by the
Russian Harmful Foreign Activities
Sanctions Regulations, 31 CFR part 587.
Each GL was made available on OFAC’s
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16888
Federal Register / Vol. 88, No. 54 / Tuesday, March 21, 2023 / Rules and Regulations
website (www.treas.gov/ofac) when it
was issued. GL 8E had an expiration
date of May 16, 2023, but was
superseded by the issuance of GL 8F on
February 24, 2023. GLs 58 and 59 have
an expiration date of March 15, 2023.
The text of these GLs is provided below.
OFFICE OF FOREIGN ASSETS
CONTROL
Russian Harmful Foreign Activities
Sanctions Regulations
31 CFR Part 587
GENERAL LICENSE NO. 8E
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Authorizing Transactions Related to
Energy
(a) Except as provided in paragraph
(c) of this general license, all
transactions prohibited by Executive
Order (E.O.) 14024 involving one or
more of the following entities that are
related to energy are authorized,
through 12:01 a.m. eastern daylight
time, May 16, 2023:
(1) State Corporation Bank for
Development and Foreign Economic
Affairs Vnesheconombank;
(2) Public Joint Stock Company Bank
Financial Corporation Otkritie;
(3) Sovcombank Open Joint Stock
Company;
(4) Public Joint Stock Company
Sberbank of Russia;
(5) VTB Bank Public Joint Stock
Company;
(6) Joint Stock Company Alfa-Bank;
(7) Public Joint Stock Company
Rosbank;
(8) Any entity in which one or more
of the above persons own, directly or
indirectly, individually or in the
aggregate, a 50 percent or greater
interest; or
(9) the Central Bank of the Russian
Federation.
(b) For the purposes of this general
license, the term ‘‘related to energy’’
means the extraction, production,
refinement, liquefaction, gasification,
regasification, conversion, enrichment,
fabrication, transport, or purchase of
petroleum, including crude oil, lease
condensates, unfinished oils, natural gas
liquids, petroleum products, natural gas,
or other products capable of producing
energy, such as coal, wood, or
agricultural products used to
manufacture biofuels, or uranium in any
form, as well as the development,
production, generation, transmission, or
exchange of power, through any means,
including nuclear, thermal, and
renewable energy sources.
(c) This general license does not
authorize:
(1) Any transactions prohibited by
Directive 1A under E.O. 14024,
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Prohibitions Related to Certain
Sovereign Debt of the Russian
Federation;
(2) The opening or maintaining of a
correspondent account or payablethrough account for or on behalf of any
entity subject to Directive 2 under E.O.
14024, Prohibitions Related to
Correspondent or Payable-Through
Accounts and Processing of
Transactions Involving Certain Foreign
Financial Institutions;
(3) Any debit to an account on the
books of a U.S. financial institution of
the Central Bank of the Russian
Federation; or
(4) Any transactions otherwise
prohibited by the Russian Harmful
Foreign Activities Sanctions
Regulations, 31 CFR part 587 (RuHSR),
including transactions involving any
person blocked pursuant to the RuHSR
other than the blocked persons
described in paragraph (a) of this
general license, unless separately
authorized.
(d) Effective December 15, 2022,
General License No. 8D, dated
November 10, 2022, is replaced and
superseded in its entirety by this
General License No. 8E.
Note to General License No. 8E. This
authorization is valid until May 16, 2023
unless renewed.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: December 15, 2022.
OFFICE OF FOREIGN ASSETS
CONTROL
Russian Harmful Foreign Activities
Sanctions Regulations
31 CFR Part 587
GENERAL LICENSE NO. 58
Authorizing the Wind Down and
Rejection of Transactions Involving
Public Joint Stock Company Rosbank
(a) Except as provided in paragraph
(c) of this general license, all
transactions prohibited by Executive
Order (E.O.) 14024 that are ordinarily
incident and necessary to the wind
down of transactions involving Public
Joint Stock Company Rosbank, or any
entity in which Public Joint Stock
Company Rosbank owns, directly or
indirectly, a 50 percent or greater
interest (‘‘Rosbank entities’’), are
authorized through 12:01 a.m. eastern
daylight time, March 15, 2023, provided
that any payment to a Rosbank entity is
made into a blocked account in
accordance with the Russian Harmful
Foreign Activities Sanctions
Regulations, 31 CFR part 587 (RuHSR).
(b) Except as provided in paragraph
(c) of this general license, U.S. persons
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are authorized to reject, rather than
block, all transactions prohibited by
E.O. 14024 that are ordinarily incident
and necessary to the processing of funds
involving one or more Rosbank entities
as an originating, intermediary, or
beneficiary financial institution,
through 12:01 a.m. eastern daylight
time, March 15, 2023.
(c) This general license does not
authorize:
(1) Any transactions prohibited by
Directive 2 under E.O. 14024,
Prohibitions Related to Correspondent
or Payable-Through Accounts and
Processing of Transactions Involving
Certain Foreign Financial Institutions;
(2) Any debit to an account on the
books of a U.S. financial institution of
the Central Bank of the Russian
Federation, the National Wealth Fund of
the Russian Federation, or the Ministry
of Finance of the Russian Federation; or
(3) Any transactions otherwise
prohibited by the RuHSR, including
transactions involving any person
blocked pursuant to the RuHSR other
than the blocked persons described in
paragraph (a) of this general license,
unless separately authorized.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: December 15, 2022.
OFFICE OF FOREIGN ASSETS
CONTROL
Russian Harmful Foreign Activities
Sanctions Regulations
31 CFR Part 587
GENERAL LICENSE NO. 59
Authorizing Transactions Related to
Debt or Equity of, or Derivative
Contracts Involving, Public Joint Stock
Company Rosbank
(a) Except as provided in paragraphs
(d) and (e) of this general license, all
transactions prohibited by Executive
Order (E.O.) 14024 that are ordinarily
incident and necessary to the
divestment or transfer, or the facilitation
of the divestment or transfer, of debt or
equity of Public Joint Stock Company
Rosbank (Rosbank), or any entity in
which Rosbank owns, directly or
indirectly, a 50 percent or greater
interest (‘‘covered debt or equity’’), to a
non-U.S. person are authorized through
12:01 a.m. eastern daylight time, March
15, 2023.
(b) Except as provided in paragraph
(e) of this general license, all
transactions prohibited by E.O. 14024
that are ordinarily incident and
necessary to facilitating, clearing, and
settling trades of covered debt or equity
that were placed prior to 4:00 p.m.
eastern standard time, December 15,
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Federal Register / Vol. 88, No. 54 / Tuesday, March 21, 2023 / Rules and Regulations
ddrumheller on DSK120RN23PROD with RULES1
2022, are authorized through 12:01 a.m.
eastern daylight time, March 15, 2023.
(c) Except as provided in paragraph
(e) of this general license, all
transactions prohibited by E.O. 14024
that are ordinarily incident and
necessary to the wind down of
derivative contracts entered into prior to
4:00 p.m. eastern standard time,
December 15, 2022, that (i) include a
blocked person described in paragraph
(a) of this general license as a
counterparty or (ii) are linked to covered
debt or equity are authorized through
12:01 a.m. eastern daylight time, March
15, 2023, provided that any payments to
a blocked person are made into a
blocked account in accordance with the
Russian Harmful Foreign Activities
Sanctions Regulations, 31 CFR part 587
(RuHSR).
(d) Paragraph (a) of this general
license does not authorize:
(1) U.S. persons to sell, or to facilitate
the sale of, covered debt or equity to,
directly or indirectly, any person whose
property and interests in property are
blocked; or
(2) U.S. persons to purchase or invest
in, or to facilitate the purchase of or
investment in, directly or indirectly,
covered debt or equity, other than
purchases of or investments in covered
debt or equity ordinarily incident and
necessary to the divestment or transfer
of covered debt or equity as described
in paragraph (a) of this general license.
(e) This general license does not
authorize:
(1) Any transactions prohibited by
Directive 2 under E.O. 14024,
Prohibitions Related to Correspondent
or Payable-Through Accounts and
Processing of Transactions Involving
Certain Foreign Financial Institutions;
(2) Any debit to an account on the
books of a U.S. financial institution of
the Central Bank of the Russian
Federation, the National Wealth Fund of
the Russian Federation, or the Ministry
of Finance of the Russian Federation; or
(3) Any transactions otherwise
prohibited by the RuHSR, including
transactions involving any person
blocked pursuant to the RuHSR other
than the blocked persons described in
paragraph (a) of this general license,
unless separately authorized.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
DEPARTMENT OF THE TREASURY
OFFICE OF FOREIGN ASSETS
CONTROL
Office of Foreign Assets Control
Russian Harmful Foreign Activities
Sanctions Regulations
31 CFR Part 587
31 CFR Part 587
Publication of Russian Harmful
Foreign Activities Sanctions
Regulations Web General Licenses 8F,
13D, 60, and 61
Office of Foreign Assets
Control, Treasury.
AGENCY:
Publication of web general
licenses.
ACTION:
The Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is publishing four
general licenses (GLs) issued pursuant
to the Russian Harmful Foreign
Activities Sanctions Regulations: GLs
8F, 13D, 60, and 61, each of which were
previously made available on OFAC’s
website.
SUMMARY:
GLs 8F, 13D, 60, and 61 were
issued on February 24, 2023. See
SUPPLEMENTARY INFORMATION for
additional relevant dates.
DATES:
FOR FURTHER INFORMATION CONTACT:
OFAC: Assistant Director for Licensing,
202–622–2480; Assistant Director for
Regulatory Affairs, 202–622–4855; or
Assistant Director for Sanctions
Compliance & Evaluation, 202–622–
2490.
SUPPLEMENTARY INFORMATION:
Electronic Availability
This document and additional
information concerning OFAC are
available on OFAC’s website:
www.treas.gov/ofac.
Background
On February 24, 2023, OFAC issued
GLs 8F, 13D, 60, and 61 to authorize
certain transactions otherwise
prohibited by the Russian Harmful
Foreign Activities Sanctions
Regulations, 31 CFR part 587. GLs 8F
and 13D superseded GLs 8E and 13C,
respectively. Each GL was made
available on OFAC’s website
(www.treas.gov/ofac) when it was
issued. The text of these GLs is provided
below.
Dated: December 15, 2022.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2023–05649 Filed 3–20–23; 8:45 am]
BILLING CODE 4810–AL–P
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16889
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GENERAL LICENSE NO. 8F
Authorizing Transactions Related to
Energy
(a) Except as provided in paragraph
(c) of this general license, all
transactions prohibited by Executive
Order (E.O.) 14024 involving one or
more of the following entities that are
related to energy are authorized,
through 12:01 a.m. eastern daylight
time, May 16, 2023:
(1) State Corporation Bank for
Development and Foreign Economic
Affairs Vnesheconombank;
(2) Public Joint Stock Company Bank
Financial Corporation Otkritie;
(3) Sovcombank Open Joint Stock
Company;
(4) Public Joint Stock Company
Sberbank of Russia;
(5) VTB Bank Public Joint Stock
Company;
(6) Joint Stock Company Alfa-Bank;
(7) Public Joint Stock Company
Rosbank;
(8) Bank Zenit Public Joint Stock
Company;
(9) Bank Saint-Petersburg Public Joint
Stock Company;
(10) Any entity in which one or more
of the above persons own, directly or
indirectly, individually or in the
aggregate, a 50 percent or greater
interest; or
(11) the Central Bank of the Russian
Federation.
(b) For the purposes of this general
license, the term ‘‘related to energy’’
means the extraction, production,
refinement, liquefaction, gasification,
regasification, conversion, enrichment,
fabrication, transport, or purchase of
petroleum, including crude oil, lease
condensates, unfinished oils, natural gas
liquids, petroleum products, natural gas,
or other products capable of producing
energy, such as coal, wood, or
agricultural products used to
manufacture biofuels, or uranium in any
form, as well as the development,
production, generation, transmission, or
exchange of power, through any means,
including nuclear, thermal, and
renewable energy sources.
(c) This general license does not
authorize:
(1) Any transactions prohibited by
Directive 1A under E.O. 14024,
Prohibitions Related to Certain
Sovereign Debt of the Russian
Federation;
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]]>Agencies
[Federal Register Volume 88, Number 54 (Tuesday, March 21, 2023)]
[Rules and Regulations]
[Pages 16887-16889]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-05649]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
31 CFR Part 587
Publication of Russian Harmful Foreign Activities Sanctions
Regulations Web General Licenses 8E, 58, and 59
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Publication of web general licenses.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury's Office of Foreign Assets
Control (OFAC) is publishing three general licenses (GLs) issued
pursuant to the Russian Harmful Foreign Activities Sanctions
Regulations: GLs 8E, 58, and 59, each of which was previously made
available on OFAC's website.
DATES: GLs 8E, 58, and 59 were issued on December 15, 2022. See
SUPPLEMENTARY INFORMATION for additional relevant dates.
FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for
Licensing, 202-622-2480; Assistant Director for Regulatory Affairs,
202-622-4855; or Assistant Director for Sanctions Compliance &
Evaluation, 202-622-2490.
SUPPLEMENTARY INFORMATION:
Electronic Availability
This document and additional information concerning OFAC are
available on OFAC's website: www.treas.gov/ofac.
Background
On December 15, 2022, OFAC issued GLs 8E, 58, and 59 to authorize
certain transactions otherwise prohibited by the Russian Harmful
Foreign Activities Sanctions Regulations, 31 CFR part 587. Each GL was
made available on OFAC's
[[Page 16888]]
website (www.treas.gov/ofac) when it was issued. GL 8E had an
expiration date of May 16, 2023, but was superseded by the issuance of
GL 8F on February 24, 2023. GLs 58 and 59 have an expiration date of
March 15, 2023. The text of these GLs is provided below.
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations
31 CFR Part 587
GENERAL LICENSE NO. 8E
Authorizing Transactions Related to Energy
(a) Except as provided in paragraph (c) of this general license,
all transactions prohibited by Executive Order (E.O.) 14024 involving
one or more of the following entities that are related to energy are
authorized, through 12:01 a.m. eastern daylight time, May 16, 2023:
(1) State Corporation Bank for Development and Foreign Economic
Affairs Vnesheconombank;
(2) Public Joint Stock Company Bank Financial Corporation Otkritie;
(3) Sovcombank Open Joint Stock Company;
(4) Public Joint Stock Company Sberbank of Russia;
(5) VTB Bank Public Joint Stock Company;
(6) Joint Stock Company Alfa-Bank;
(7) Public Joint Stock Company Rosbank;
(8) Any entity in which one or more of the above persons own,
directly or indirectly, individually or in the aggregate, a 50 percent
or greater interest; or
(9) the Central Bank of the Russian Federation.
(b) For the purposes of this general license, the term ``related to
energy'' means the extraction, production, refinement, liquefaction,
gasification, regasification, conversion, enrichment, fabrication,
transport, or purchase of petroleum, including crude oil, lease
condensates, unfinished oils, natural gas liquids, petroleum products,
natural gas, or other products capable of producing energy, such as
coal, wood, or agricultural products used to manufacture biofuels, or
uranium in any form, as well as the development, production,
generation, transmission, or exchange of power, through any means,
including nuclear, thermal, and renewable energy sources.
(c) This general license does not authorize:
(1) Any transactions prohibited by Directive 1A under E.O. 14024,
Prohibitions Related to Certain Sovereign Debt of the Russian
Federation;
(2) The opening or maintaining of a correspondent account or
payable-through account for or on behalf of any entity subject to
Directive 2 under E.O. 14024, Prohibitions Related to Correspondent or
Payable-Through Accounts and Processing of Transactions Involving
Certain Foreign Financial Institutions;
(3) Any debit to an account on the books of a U.S. financial
institution of the Central Bank of the Russian Federation; or
(4) Any transactions otherwise prohibited by the Russian Harmful
Foreign Activities Sanctions Regulations, 31 CFR part 587 (RuHSR),
including transactions involving any person blocked pursuant to the
RuHSR other than the blocked persons described in paragraph (a) of this
general license, unless separately authorized.
(d) Effective December 15, 2022, General License No. 8D, dated
November 10, 2022, is replaced and superseded in its entirety by this
General License No. 8E.
Note to General License No. 8E. This authorization is valid
until May 16, 2023 unless renewed.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: December 15, 2022.
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations
31 CFR Part 587
GENERAL LICENSE NO. 58
Authorizing the Wind Down and Rejection of Transactions Involving
Public Joint Stock Company Rosbank
(a) Except as provided in paragraph (c) of this general license,
all transactions prohibited by Executive Order (E.O.) 14024 that are
ordinarily incident and necessary to the wind down of transactions
involving Public Joint Stock Company Rosbank, or any entity in which
Public Joint Stock Company Rosbank owns, directly or indirectly, a 50
percent or greater interest (``Rosbank entities''), are authorized
through 12:01 a.m. eastern daylight time, March 15, 2023, provided that
any payment to a Rosbank entity is made into a blocked account in
accordance with the Russian Harmful Foreign Activities Sanctions
Regulations, 31 CFR part 587 (RuHSR).
(b) Except as provided in paragraph (c) of this general license,
U.S. persons are authorized to reject, rather than block, all
transactions prohibited by E.O. 14024 that are ordinarily incident and
necessary to the processing of funds involving one or more Rosbank
entities as an originating, intermediary, or beneficiary financial
institution, through 12:01 a.m. eastern daylight time, March 15, 2023.
(c) This general license does not authorize:
(1) Any transactions prohibited by Directive 2 under E.O. 14024,
Prohibitions Related to Correspondent or Payable-Through Accounts and
Processing of Transactions Involving Certain Foreign Financial
Institutions;
(2) Any debit to an account on the books of a U.S. financial
institution of the Central Bank of the Russian Federation, the National
Wealth Fund of the Russian Federation, or the Ministry of Finance of
the Russian Federation; or
(3) Any transactions otherwise prohibited by the RuHSR, including
transactions involving any person blocked pursuant to the RuHSR other
than the blocked persons described in paragraph (a) of this general
license, unless separately authorized.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: December 15, 2022.
OFFICE OF FOREIGN ASSETS CONTROL
Russian Harmful Foreign Activities Sanctions Regulations
31 CFR Part 587
GENERAL LICENSE NO. 59
Authorizing Transactions Related to Debt or Equity of, or Derivative
Contracts Involving, Public Joint Stock Company Rosbank
(a) Except as provided in paragraphs (d) and (e) of this general
license, all transactions prohibited by Executive Order (E.O.) 14024
that are ordinarily incident and necessary to the divestment or
transfer, or the facilitation of the divestment or transfer, of debt or
equity of Public Joint Stock Company Rosbank (Rosbank), or any entity
in which Rosbank owns, directly or indirectly, a 50 percent or greater
interest (``covered debt or equity''), to a non-U.S. person are
authorized through 12:01 a.m. eastern daylight time, March 15, 2023.
(b) Except as provided in paragraph (e) of this general license,
all transactions prohibited by E.O. 14024 that are ordinarily incident
and necessary to facilitating, clearing, and settling trades of covered
debt or equity that were placed prior to 4:00 p.m. eastern standard
time, December 15,
[[Page 16889]]
2022, are authorized through 12:01 a.m. eastern daylight time, March
15, 2023.
(c) Except as provided in paragraph (e) of this general license,
all transactions prohibited by E.O. 14024 that are ordinarily incident
and necessary to the wind down of derivative contracts entered into
prior to 4:00 p.m. eastern standard time, December 15, 2022, that (i)
include a blocked person described in paragraph (a) of this general
license as a counterparty or (ii) are linked to covered debt or equity
are authorized through 12:01 a.m. eastern daylight time, March 15,
2023, provided that any payments to a blocked person are made into a
blocked account in accordance with the Russian Harmful Foreign
Activities Sanctions Regulations, 31 CFR part 587 (RuHSR).
(d) Paragraph (a) of this general license does not authorize:
(1) U.S. persons to sell, or to facilitate the sale of, covered
debt or equity to, directly or indirectly, any person whose property
and interests in property are blocked; or
(2) U.S. persons to purchase or invest in, or to facilitate the
purchase of or investment in, directly or indirectly, covered debt or
equity, other than purchases of or investments in covered debt or
equity ordinarily incident and necessary to the divestment or transfer
of covered debt or equity as described in paragraph (a) of this general
license.
(e) This general license does not authorize:
(1) Any transactions prohibited by Directive 2 under E.O. 14024,
Prohibitions Related to Correspondent or Payable-Through Accounts and
Processing of Transactions Involving Certain Foreign Financial
Institutions;
(2) Any debit to an account on the books of a U.S. financial
institution of the Central Bank of the Russian Federation, the National
Wealth Fund of the Russian Federation, or the Ministry of Finance of
the Russian Federation; or
(3) Any transactions otherwise prohibited by the RuHSR, including
transactions involving any person blocked pursuant to the RuHSR other
than the blocked persons described in paragraph (a) of this general
license, unless separately authorized.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
Dated: December 15, 2022.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-05649 Filed 3-20-23; 8:45 am]
BILLING CODE 4810-AL-P
